FirstEnergy Corp. (FE) is an Akron, Ohio-based electric utility focused primarily on regulated electricity distribution and transmission across the Midwest and Mid-Atlantic regions of the U.S. Valued at $27.1 billion by market cap, the company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities, and provides energy management and other energy-related services. FirstEnergy has struggled to turn its gains into meaningful market-beating momentum over the past year.
FE has gained 7.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 20.2%. In 2026, FE stock is up 5%, compared to the SPX's 13.2% rise on a YTD basis. A $20 Billion Reason Why Intel Stock Is in Focus Marvell Technology (MRVL) Stock Might Offer a Quick Bounce Before Earnings Most Analysts Still Aren't Bullish on Tesla Stock, Even After Recent Selloff.
Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. The story is more encouraging within the utilities space, however, where FE has surpassed the State Street Utilities Select Sector SPDR ETF (XLU), which has gained about 1.6% over the past year and 2.7% in 2026. On July 28, FirstEnergy released its FY2026 Q2 earnings, and its shares rose marginally.
While revenue increased 8.8% year over year to $3.7 billion, core EPS declined 3.8% from the year-ago quarter to $0.50 as higher maintenance expenses weighed on the Distribution business. The quarter also highlighted the benefits of FirstEnergy's ongoing investment strategy. Transmission rate base grew 22% in the Integrated segment and 11% in the Stand-Alone Transmission segment, helping support earnings growth.
Looking ahead, FirstEnergy reaffirmed its 2026 Core EPS guidance of $2.62-$2.82 and its long-term target of Core EPS growth near the top end of 6%-8% annually through 2030. For the current fiscal year, ending in December, analysts expect FE's EPS to grow 7.5 to $2.74 on a diluted basis. The company's earnings surprise history is impressive.
It beat or matched the consensus estimate in each of the last four quarters. Among the 17 analysts covering FE stock, the consensus is a "Moderate Buy." That's based on seven "Strong Buy" ratings, one "Moderate Buy," and nine "Holds." This configuration is bullish than three months ago, with six analysts suggesting a "Strong Buy." On July 20, Barclays analyst Nicholas Campanella reiterated an "Overweight" rating on FirstEnergy and raised the price target to $55 from $53. The mean price target of $53.71 represents a 21.7% premium to FE's current price levels.
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